A: No. Q. Follow-on Q. The tables in the DFS were provided by various consultants who each have their own way of summarising the costs. Both the bond deal and the bank deal require some serious spending for implementation and it is not in KEFI’s interests to spend on both when one was a clear winner. My first question regarding detailed timing of the finance steps was to try and understand whether Kefi will be announcing interim steps prior to the full drawdown in mid 2017, so my question may have not been clear. John Leach has just stepped down as Finance Director of Atalaya and will now manage the completion of finance syndication process at KEFI. We use cash and working capital facilities pending the project level funding coming in and the start of operating cash flow. Why is the independent security report taking about 2 months to complete if it is simply updating previous assessments? If you choose to post these answers on a bulletin board, we ask you to publish the Q&A verbatim on the bulletin board and cite this page as the source. It is important to note that Lanstead shares the majority, but not all of the upside in future KEFI share price appreciation. We lock down people, sites and offices from time-to-time and have cumbersome travel arrangements. There has been considerable uncertainty, confusion and disappointment over the level of funding required of PLC for the TK project, including the historic VAT liability. We’re now finalizing the remaining details of the financing plan to include cost overrun facilities, limited hedging and pre-production finance charges with a view to striking an appropriate balance between risk-mitigation and equity dilution. we just report what needs to be reported and open our doors to analysts so they can form their views. Four of the seven group company directors having been with the business since its foundation. Since moving from Australia to Europe in 2005 with a team, he launched EMED Mining (now Atalaya), KEFI Minerals and some private ventures which now includes the Cyprus copper venture in which Atalaya retains a 10% free-carried interest. - KEFI has announced that, along with its partners, the government and the contractors, it met last month and confirmed to trigger the project       development this month of October. • Mining pre-strip ($15.6m) less $5.0m = $10.6m Finally, if you want to reconcile the owner mining capex in Table 13-2 of the DFS to the contractor mining capex in the RNS, then have a look at Section 16-5 of the DFS, Q. I agree that the resettlement processes are important to monitor because of their political sensitivity in the world’s highest growth country which is naturally experiencing a huge wave of industrialisation and urbanisation. At our other key project in Saudi, our more recently-granted Exploration Licence at Hawiah, we’ll commence drill-testing of gold and base metals targets. A. KEFI can not issue announcements analysing third-party commentaries. KEFI Minerals regularly updates the market with news of its activities. A. Can you confirm now when the drilling for Hawiah will commence and whether we will have an announcement of the bank debt and streaming deals prior to Xmas for Tulu Kapi? Q. EMED/Atalaya is focused on restarting the old Rio Tinto Copper Mine in Spain and has overhauled plans to international standards, completed an arduous clean-up of inherited litigation and other disputes, re-assembled full project ownership and agreeing the basis for permitting by the Andalucian authorities. Lanstead makes more money the higher the share price appreciates. Will there be any more updates/upgrades to TK potential total resource/reserve before funding is confirmed? Q: When can the company report that financings have no outstanding conditions or caveats? All of the rest has turned out to be with financial institutions which are solid and subject to similar rules of conduct on deals as institutions elsewhere. KEFI Minerals is committed to providing full and transparent disclosure of its activities, primarily via releases to AIM's company announcement platform. Or 2.82p worth of dividends? Why did you drop Cantor Fitzgerald as a Joint Broker? Will KEFI have more control, will there be a strict timetable and will there be built-in penalties for delays in payment of the capex funding? Lanstead is free to buy and sell KEFI shares just like any shareholder, except that it is required to disclose movements of >1% as a significant shareholder. Yes KEFI Minerals ( KEFI ) “is pleased to provide its latest quarterly operational update”. We’ve taken important steps to refine the finance plan to protect the Tulu Kapi project and all its undertakings against fluctuations in gold price. Various questions regarding planned drilling of the Hawiah prospect in Saudi Arabia. Under AIM rules, KEFI Minerals cannot be party to selective disclosure of information to individual investors. KEFI (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide its latest quarterly operational update. One of the reasons for the recent State of Emergency (which was lifted some months ago) was community unrest over mistreatment during resettlement processes by parts of the government administration and by some foreign companies. The sharing agreement with Lanstead allows KEFI to further benefit from positive share price performance over the next 18 months and the funding helps support KEFI’s activities for 2017. ‎They/we sorted out these details during the past two years despite country-wide protests over, in particular, mishandling of displaced communities (not Tulu Kapi but other sites across the country). Does the RNS released on 5 March mean the project is now formally signed off, meaning receipt of the ANS cash is now due? KEFI is working intensely with the community and the relevant government agencies and we go beyond compliance with local laws by also complying with IFC Standards. Having said that, we are not aware of any non-reporting. It is a disappointment that we will suffer yet more dilution despite your recent assurances. And closing is expected by the end of October as reported in KEFI's announcement dated 4 September 2019 and Interim Results released on 23 September 2019. It would add cash, mitigate future need for dilution and potentially bring about a significant stock re-rating. A. The table at this link outlines how KEFI has improved the key Tulu Kapi economic parameters since acquisition in December 2013. A. Are you talking to the Ethiopian Government about their participation? A: Further information is available on ACT Capital's website at www.act-capital.ch. The RNS capex table aimed to distil these numbers down to a few line items that could give a broad split of the capex for a wide audience. However, he said the loan process had stuck due to a change in loan policy. Q: Is it correct that an arrangement fee was paid to a new lender in shares which can be sold by them to effectively fund their loan to KEFI? A. Finally, voting by proxy is unaffected by the location of the meeting. As set out in the 2018 Annual Report and in other announcements the finance plan is for KEFI puts $10M or £7M more into TKGM sourced from cash, working capital facilities, mezzanine financing possibilities and refunds on project finance closings. (KEFI.L) stock quote, history, news and other vital information to help you with your stock trading and investing. So KEFI’s loan request is pending,” Esayas said. KEFI has received nothing but praise from the Government, short-listed contractors and financiers for the manner in which we have overhauled Tulu Kapi. Should we expect the senior debt and project equity pieces to be announced and / or closed at the same time, suggested to be October, or will they run independent in closing to one another? Q. With the benefit of hindsight, we can all now see that the Government effectively slowed the whole process down by over 12 months by virtue of the actions around and during the now-expired state of emergency during which it also overhauled its own teams and created an independent agency for this function around the country.